Days on Market & Median Price Report – June 2019

DOM & Median Price Report – Reno/Sparks – June 2019

Let’s take a look at the 6 month trends for Median Price and Days on Market trends in the greater Reno-Sparks area for single family home sales.

“Median” means “in the middle”, with half of homes selling for more and half selling for less. According to the Reno-Sparks Association of REALTORS, the regional median price increased by 3.7% from $376,000 in April to $390,000 in May. There was also a 4% increase from May of last year. The supply and demand for housing in our region are expected to keep median price on the rise in the long term.

The Average Days on Market decreased by 17.5% over the last month to 80 days. The decrease is a good indicator that the selling season is in full swing. For sellers in many neighborhoods and price ranges, strong buyer demand continues to make this an excellent time to consider selling now. If you are in the market to buy, be sure you are pre-qualified for a home loan before heading out to look.